11/06/2015

"Big Oil Is Not Big Tobacco: Why The Witch Hunt Against Exxon Is Absurd"

The attorney general of New York, Eric Schneiderman has commenced an investigation of Exxon MobilXOM +0.00%. He seeks to find out what the oil giant knew about the possible risks of carbon-induced climate change and when. Schneiderman’s office on Thursday served a subpoena to Exxon, demanding years of internal documents on global warming issues. The impetus for Schneiderman’s investigation appears to be recent revelations that Exxon, as far back as the 1970s, had funded studies concluding that global warming could result from carbon emissions — but that Exxon had failed to publicly disclose those risks to shareholders.

But let’s get real. See this for what it is — a witch hunt against a big company with deep pockets that the anti-carbon lobby wants to fleece to support their pet renewable energy projects.

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The attorney general of New York, Eric Schneiderman has commenced an investigation of Exxon MobilXOM +0.00%. He seeks to find out what the oil giant knew about the possible risks of carbon-induced climate change and when. Schneiderman’s office on Thursday served a subpoena to Exxon, demanding years of internal documents on global warming issues. The impetus for Schneiderman’s investigation appears to be recent revelations that Exxon, as far back as the 1970s, had funded studies concluding that global warming could result from carbon emissions — but that Exxon had failed to publicly disclose those risks to shareholders.

But let’s get real. See this for what it is — a witch hunt against a big company with deep pockets that the anti-carbon lobby wants to fleece to support their pet renewable energy projects.